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Reprinted with the permission of the Latino Community Credit Union
Vicky Garcia, Senior Vice President of Latino Community Credit Union (LCCU) – a community investment of the Adrian Dominican Sisters – participated in a late January 2023, moderated conversation with Vice President Kamala Harris and Isabella Guzman, U.S. Small Business Administrator. The conversation was introduced by Marla Bilonick, President and CEO of the National Association for Latino Community Asset Builders (NALCAB) and moderated by Jorge Buzos of Univision.
Marla framed the conversation perfectly, explaining the important relationship between small, Latino-owned businesses and the community lenders that are “entrenched in the communities they serve … and fill an important gap by providing loans and financial services that traditional banks are sometimes not able or willing to provide.” She concluded by celebrating LCCU as a “superstar in the community lending field.”
Vice President Harris said community lenders like LCCU “understand the capacity of the community. They understand the culture of the community, the mores of the community, what the community wants for itself.” These words beautifully describe LCCU, which has established a national model for financial inclusion and has provided $1.6 billion in loans to Latinos traditionally marginalized from economic opportunity.
“Vice President Harris is a proven champion of community lenders, including credit unions like LCCU,” Vicky said. “By taking the time to come here and meet our members face to face, the Vice President is recognizing their important contribution to the U.S. economy and LCCU’s role as a driver of economic opportunity and growth.”
Vice President Harris met several LCCU members who have used LCCU loans to start and grow their businesses, buy homes, and build generational wealth. Additionally, she and Administrator Guzman visited a local bakery owned by LCCU members.
Vice President Kamala Harris visits a bakery owned by members of the Latino Community Credit Union. (Photo courtesy of the Latino Community Credit Union)
The vice president was also on hand to celebrate the federal government’s investment in community lenders like LCCU. As part of the U.S. Treasury Department $9 billion Emergency Capital Investment Program (ECIP), LCCU received a $99 million, 30-year, low-interest loan from the U.S. Treasury Department.
The federal investment provides LCCU the equity to build its capital base dramatically and quickly expand its impactful, public-private partnership model. LCCU is now positioned to raise significantly more deposits from mission-aligned private sector partners – corporations, foundations, and health systems – and immediately deploy those deposits as life-changing loans to those who need them the most.
Over the 30-year term, LCCU expects to raise $700 million in private sector deposits, which in combination with member deposits, will allow for the union to make one million fair and affordable loans, for a total of $30 billion in financing, to its growing membership of Latinos in the Southeast.
Vice President Harris concluded by underscoring that LCCU’s “one million loans will have a profound exponential impact on the economic health and wellbeing of the community.”
Watch a video of the event below or on YouTube.
February 20, 2023, Adrian, Michigan – How do people of differing faith traditions celebrate rites of passage as they journey through life? Adrian Dominican Sister Susan Van Baalen, OP, explores the similarities and differences of these rites of passage during Rites of Passage: Hindu, Christian, Muslim, Native American. This workshop is being offered for in-person and virtual attendance from 1:30 to 3:30 p.m. EST on Thursdays, March 9, 16, and 23, 2023.
Participants will learn the sacred rites of acceptance and growth in oneness of God that emerges from experiences of retreat from the world, whether in the form of hajj, vision quest, pilgrimage to the Holy Land, or wandering ascetism.
Rites of Passage is offered in-person and live streamed from Weber Retreat and Conference Center. In-person participants are screened for COVID-19 and required to wear masks.
The cost is $45 for the series. Registration is required and is available at www.webercenter.org; click on “programs.” Registrations may also be made by calling 517-266-4000 or emailing email@example.com. Limited scholarships are available.
Weber Center is on the campus of the Adrian Dominican Sisters’ Motherhouse, Adrian, Michigan. Traveling east on Siena Heights Drive, pass the Adrian Rea Literacy Center and turn left just before the solar panel-covered parking lot. Follow the signs to Weber Center. For information, call the Weber Center at 517-266-4000.